Join our community of smart investors

Telit gains US network approval

The self-named 'enabler of the Internet of Things' had one of its Cat M1 long-term evolution modules certified by US telecoms provider AT&T
September 1, 2017

Telit Communications (TCM) has finally announced some good news. It has received certification from telecoms provider AT&T for its ME910C1-NA module to be used on the US company’s network. This is the first of Telit’s LTE (long-term evolution) Category M1 (Cat M1) modules to be certified by AT&T.

IC TIP: Sell at 158p

Interim chief executive Yosi Fait said this is an important milestone for Telit. Customers who are currently using its 2G or 3G modules are now able to move over to the Cat M1 module, and go through the required AT&T testing. The module is designed to reduce the time-to-market for 'Internet of Things' devices, and provide more options for industries that require lower costs, security and longer product lifecycles.

The market reacted positively with the shares rising 20 per cent, providing some much-needed respite for shareholders. It follows a string of issues for the company over the last few weeks, ultimately leading to the resignation of former chief executive Oozi Cats. At the time, Telit reported an independent review “has found that the evidence shows that an indictment was issued against Oozi Cats in the US and that this fact was knowingly withheld from advisers”.